Bill Baggins estimates a positive NPV of $450,000 for an investment he is considering. The initial investment needed is $950,000.

Bill Baggins estimates a positive NPV of​ $450,000 for an investment he is considering. The initial investment needed is​ $950,000. Bill plans to borrow​ $680,000 and put up​ $220,000 of his own money. If he proceeds as​ planned, what will be his leverage​ ratio, L, for this​ intestment? ​ (percent with 2​ decimals)